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October 23, 2013 02:00 AM

AirBoss completes acquisition, has new credit facility

Rubber & Plastics News Report
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    NEWMARKET, Ontario—AirBoss of America Corp. completed its acquisition of all the shares of Flexible Products Co. The deal was an all cash transaction valued at approximately $51 million.

    The acquisition was financed with debt, with AirBoss entering a new long-term debt facility with a syndicate of banks led by its existing banker. The new facility is comprised of a $25 million senior secured multi-currency revolver, a $15 million senior secured revolving credit facility, a $45 million senior secured term loan, an $8.45 million fixed rate term loan and a $4.85 million fixed rate term loan.

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